“Barbarians” Arrive At The Gates Of Techrete
The increase in activity at the Techrete site has seen the development edge towards full construction and follows completion of the plans in November by Henry J. Lyons, architects to the project. To summarise, the developer Marlet, is constructing 512 units in blocks of 5 to 6 stories in height. The development will also include 2,600 sq meters of retail space, 439 cars spaces, 1335 bike spaces, a gym and a creche and which will be set in “a vibrant area of public open space”.
It would appear that key to the timing of the project is funding which has recently been provided to Marlet, from AIG and Activate Capital. While AIG is well known as both an insurer and investor, the latter Activate Capital, is a relatively new entity but is funded by KKR and the Irish Strategic Investment Fund (ISIF), the Irish Government’s own sovereign investment fund.
This is an interesting mix between the Irish State on the one hand and KKR of New York – formerly known as Kohlberg Kravis and Roberts, the leviathian investors and main protagonists in the famed book “Barbarians At The Gates”. And these boys aren’t used to knocking!
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